BRAY, Ireland, December 20, 2011 /PRNewswire/ --
Osteologix Holdings, PLC ("Osteologix" or the "Company") declared a dividend of Euro 0.06 per sharepayable to shareholders of record on December 19, 2011. The payment date will be February 15, 2012. The payment date is being delayed to allow time for certain Irish Dividend WithholdingTax ("DWT") exemption forms to be returned to the Company by shareholders prior to dividend payment.
Shareholders who are not Irish residents may be entitled to an exemption from DWT. Those shareholders should complete a DWT exemption form, available on the Company's website, and return it to the Company. Shareholders who are entitled to an exemption but who do not return the relevant forms prior to the payment date will have DWT deducted from their dividend, however, they may subsequently apply to the Irish Revenue authorities for a refund of DWT.
In July, 2010 Osteologix granted the Servier Research Group an exclusive royalty bearing license to develop and commercialize strontium salt products covered by Osteologix's patent rights to treat post-menopausal osteoporosis, other bone and joint disorders and dental indications worldwide, except in the U.S.Assuming continued milestone payments, and the anticipated royalties from the Company's license agreement with the Servier Research Group, Osteologix looks forward to the potential to continue operating on a positive cash flow basis with the possibility for annual dividend payments.
The World Health Organization defines osteoporosis as a progressive skeletal disease characterized by low bone mass and micro-architectural deterioration of bone tissue with a consequential increase in bone fragility and susceptibility to fracture. There is increased risk of fracture particularly of spine, hip, pelvis and forearm. It is predominantly a disease of post-menopausal women and risk of fracture increases with age. Fractures caused by osteoporosis affect one in two women and one in five men over the age of 50.
Osteologix is a specialty pharmaceutical company focused on the development of therapies for the treatment and prevention of diseases of bone and joint tissues. In July, 2010 Osteologix granted the Servier Research Group an exclusive royalty bearing license to developand commercialize strontium salt products covered by Osteologix's patent rights to treat post menopausal osteoporosis, other bone and joint disorders and dental indicationsworldwide, except in the U.S. Shares of the Company stock are traded on the Pink Sheets under the ticker symbol OLGXF. For more information please visit http://www.osteologix.com.
Statements in this press release are not strictly historical, including statements about product development and commercialization, royalties from Servier, dividend payments and patent protection and are forward-looking statements made pursuant to the safe-harbor provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected or assumed in such forward-looking statements, including, without limitation, Osteologix's obligations to AditechPharma AB, risks related to Servier's ability to conduct additional clinical trials of licensed products, Servier's ability to obtain approval from government authorities for the sale and distribution of licensed products, Servier's compliance with terms of our agreement, market acceptance of licensed products and potential success and introduction of competing products. Additional factors that could cause actual results to differ materially are included under the heading "Risk Factors" in Part II, Item 1A of the Osteologix, Inc. Quarterly Report on Form 10-Q filed November15, 2010. All forward-looking statements and risk factors included in this document are made as of the date hereof, based on information available to us as of the date hereof, and we assume no obligation to update any forward-looking statement or risk factor. You should consult the risk factors listed in the Osteologix, Inc. Annual Report on Form 10-K filed for years prior to 2010 and in the Osteologix, Inc. Quarterly Reports filed prior to 2011 on Form 10-Q.
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Osteologix Holdings plc.
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|SOURCE Osteologix Holdings PLC|
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